Real Estate Rookie

Want to know how to buy your first rental property without money getting in the way? For years, Mike wanted to invest in real estate, but banks wouldn’t give him a loan. If you’re having the same issue, we’re here to help!Welcome back to the Real Estate Rookie podcast! After multiple deals fell through during the financing stage, Mike Previtera realized he needed to work on his finances. So, he and his wife trimmed the fat from their budget and aggressively paid off bad debts. Mike even made changes to his lawnmowing business—raising rates and working extra hours to increase his income. Within one year, all of the hard work had paid off, as Mike was able to get financing for not only his first deal but also the deals that followed!If your financial situation is holding you back from buying real estate, this episode is for you! Mike recalls the exact steps he took to get his finances in order. He also shares how he grew his network, which allowed him to find more deals and financing opportunities. Finally, he talks about some of his biggest investing mistakes—mistakes that YOU can avoid!In This Episode We Cover:How to buy your first rental property when you can’t get a loanFinding deals, connections, and mentors through the power of networkingWhy hustling for a season could help kickstart your real estate journeyHow to lay your financial foundation before investing in real estateThe BEST strategies for finding deals as a new investorThe most common real estate investing pitfalls (and how to AVOID them!)And So Much More!Links from the ShowFind an AgentFind a LenderAshley's BiggerPockets ProfileAshley's InstagramTony's BiggerPockets ProfileTony's InstagramReal Estate Rookie Facebook GroupJoin BiggerPockets for FREEAsk Us Your Investing QuestionApply to Be a Guest on the “Real Estate Rookie” Podcast‘Building’ Wealth as a 24-Year-Old with 12 New Construction ProjectsRookie Reply: How to Get 100% Financing for ALL of Your Real Estate DealsRookie Reply: Networking Tips That’ll Increase Your Net WorthConnect with Mike:Mike's BiggerPockets ProfileCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-361Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Experienced investor Leka Devatha shares her story of dealing with squatters in her property, including legal battles, media attention, and secret agent work. She offers tips on avoiding the same fate, dealing with squatters without evictions, and preventing theft. The podcast covers handling trespassers, legal challenges, removing squatters, involving the media, and taking action against squatters.

Jaryn Pierson went from sleeping on his grandma's couch and working a minimum-wage job to earning $30,000 in cash flow each year from a single property. He shares lessons on raising rents, utilizing seller financing, becoming a better Airbnb host, finding clients for a property management company, and the importance of stabilizing your portfolio.

Tips for choosing an out-of-state real estate market, navigating the pre-approval process for home loans, funding holding costs, installing security cameras in rental properties, exploring different loan options and monitoring credit, finding real estate lenders, using resources and connecting with other investors, the legality and ethics of security cameras, and matching with an investor-friendly agent for real estate investing.

Justin Noe and Nate Cherubini, real estate investing partners, share their $120k home renovation mistake which involved termites, zoning issues, and bad contractors. They emphasize the importance of keeping contractors in check, building a buy box early on, and getting your family on board with real estate investing. They also discuss the benefits of real estate auctions, the challenges of renovation projects, and the significance of building positive relationships in real estate.

Learn the three often-overlooked beginner steps to start investing in real estate in 2024 and hear Dave Meyer's 2024 mortgage rate predictions. Discover the importance of having a clear strategy, aligning investments with long-term goals, and creating a value statement and mission statement. Explore the concept of running a small business and managing payroll in real estate investing. Find out how to view real estate deals as puzzles and the benefits of stable and predictable mortgage rates for investors.

Dayna Hicks, a Multifamily Bootcamp graduate and foster parent, shares her journey of securing a thirteen-unit transitional house at a $180K discount using creative financing. She discusses the advantages of investing in multifamily real estate, leveraging primary residence for funding, raising rent on good tenants, and managing home renovation projects.

Off-market real estate deals allow you to avoid the multiple listings service (MLS) and find RARE properties often at a sizable discount, but many rookie investors are hesitant to send mail or pick up the phone. If that sounds like YOU, we have the tips, tools, and templates to make your life easier!Welcome back to the Real Estate Rookie podcast! Today’s special guest is Brett Long, a rookie investor who managed to build a valuable portfolio in just three years. At a time when all of his friends and family members told him to avoid real estate investing, Brett went all-in—flipping houses for a HUGE profit. Little did he know that the money he would bring in from this strategy would help him fund buy and hold properties as well.In this episode, Brett talks about his experience driving for dollars, as well as the “personalized pitch” he included in his direct mail campaigns to generate a TON of interest from sellers. Of course, once the calls started coming in, he still had some convincing to do. Brett provides the template for these productive phone conversations and shares how he was able to turn hesitant homeowners into willing sellers!In This Episode We Cover:Finding a TON of off-market properties by driving for dollarsBuilding the PERFECT buy box for your investing needsHow to beat the competition by investing in “the path of progress”Using the profits from house flips to fund buy and hold rental propertiesHow to craft a high-converting mailer to send to sellersEssential tips and tricks for talking to sellers over the phoneWhy NOW is the best time to start flipping housesAnd So Much More!Links from the ShowFind an AgentFind a LenderAshley's BiggerPockets ProfileAshley's InstagramTony's BiggerPockets ProfileTony's InstagramReal Estate Rookie Facebook GroupJoin BiggerPockets for FREEAsk Us Your Investing QuestionApply to Be a Guest on the “Real Estate Rookie” PodcastFrom Sleeping in His Car to Multi-Unit Landlord & The “Nomad” StrategyFinance Friday: Self-Employed Income and Short-Term Rental InvestingFind Property Information Easily with PropStreamThe Step-by-Step Guide to Finding the BEST Off-Market Real Estate DealsFind the Real Estate You Hate (So You Can Buy the Real Estate You Love)How to Get a Better Price on That Off-Market PropertyCashing In On Overlooked Off-Market Deals & Overcoming Analysis ParalysisConnect with Brett:Brett's BiggerPockets PodcastBrett's InstagramBrett's WebsiteCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-354Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Making $71,000 per year from ONE rental property is a huge feat for any real estate investor, but it’s even more impressive when you’ve had to work your way from the very bottom. Although today’s guest had to overcome several challenges on his investing journey, his resiliency paid off in a BIG way!Only a few years ago, Matt McDermott’s life was unraveling. After hitting rock bottom and going to rehab, Matt realized that he needed to make some serious life changes. Step one was getting sober. Step two was financial freedom through real estate. After an argument in the kitchen one evening, Matt and his wife reached the conclusion that they should buy their first rental property. Since then, they have built a multimillion-dollar painting business and a cash-flowing real estate portfolio!In this rags-to-riches episode, Matt shares how he worked around several roadblocks to make his real estate dream a reality. He also offers crucial tips for getting your spouse on board with real estate, as well as how to get your family involved in DIY home renovation projects. Finally, if you’re self-employed, Matt talks about creative ways to get financing for your deals—such as using bonus depreciation to boost your buying power!In This Episode We Cover:Making $71,000/year from ONE property with the short-term rental strategyHow to get your spouse on board with your real estate dreamHow to get financing for your deal when the banks tell you “no”Increasing your buying power and reducing your tax burden with bonus depreciationTurning DIY home renovation projects into more quality time with familyLeveraging equity in your portfolio to buy MORE real estateAnd So Much More!Links from the ShowFind an AgentFind a LenderAshley's BiggerPockets ProfileAshley's InstagramTony's BiggerPockets ProfileTony's InstagramReal Estate Rookie Facebook GroupJoin BiggerPockets for FREEAsk Us Your Investing QuestionApply to Be a Guest on the “Real Estate Rookie” PodcastFrom Sleeping in His Car to Multi-Unit Landlord & The “Nomad” StrategyFinance Friday: Self-Employed Income and Short-Term Rental InvestingFind Property Information Easily with PropStreamConnect with Matt:Matt's InstagramMatt's WebsiteCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-353Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Learn how to pitch seller financing like a pro and get your offer accepted. Discover the pitfalls to avoid when taking on more real estate debt and how to scale your business faster. Get expert advice on negotiating pricing with contractors and protecting yourself. Plus, explore the flexibility of seller financing and strategies for optimizing debt-to-income ratio. Find out how to increase borrowing power for real estate investments and find reliable contractors. Don't forget the importance of creating a scope of work for rehab projects.